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Depreciation Bases

Owned by Kyle Niekamp
Last updated: 06 21, 2022 by Claire Aleman

Overview:

This window allows you to set up depreciation bases for purposes of tracking and calculating depreciation on fixed assets. Common examples of depreciation bases are listed below. PENTA can optionally automatically book accounting entries during the depreciation calculation process for the depreciation base that is flagged as 'Book Method'. Only one depreciation base can be flagged as the book method, the remaining depreciation base calculations are for reporting only.  Depreciation Life, Method, etc. is defined in the Fixed Asset Class or Asset Information window. These rules define how PENTA calculates depreciation under each depreciation base.

Examples:

  • Book Method
  • Federal Tax Method
  • State Tax Method

Benefits:

  • Ability to user define multiple depreciation bases for PENTA to track
  • Flagging a depreciation base as 'Book' tells PENTA to automatically book all depreciation accounting entries

Roles:

  • Fixed Asset Manager
  • Accounting Manager
  • CFO

Additional Content

Location:

  • Fixed Asset Management > Setup > Depreciation Bases

Video:

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Penta Technologies continuously strives to improve customer content, therefore, information is subject to change at any time.